Buy To Let Booming In The North Of England
With endless doom and gloom stories about the property market, finally there is some positive news and this time it's from outside London, report Philip James.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
In the first quarter of 2011 rental figures have increased by nearly 8% as a flood of landlords return to the northern property market. The mini-boom has been boosted by low interest rates, restricted borrowing and the lack of first-time buyers.
Property is now very affordable in Manchester, but only for those with money behind them or a decent deposit. And for the north of England, that means landlords, both professional and amateur.
Philip James owner Philip Nolan explains:
"Landlords are having a field day in the north of England. In the first quarter of 2011 one of our Manchester branches witnessed two-thirds of its entire rental property stock rise sharply in value without a single property dropping.
"This is a record for Manchester and we expect the trend to continue throughout 2011 and into 2012"
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
FCA
Advice firm employees plead guilty after defrauding clients of £2m
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
